Question 9 On January 1, 2017, Pearl Industries purchased 1,400 treasury shares. Other Information regarding Pearl Industries is provided below. 2016 2017 Net Income E202,000 215,400 Dividends on preference shares 31,200 E31,200 Dividends on ordinary shares 21,300 25,100 Weighted average number of ordinary shares outstanding 11,900 10,500 Ordinary shareholders' equity beginning of year 603,400 E752,900 Ordinary shareholders' equity end of year E752,900 834,195 Compute return on ordinary shareholders' equity for each year. (Round answers to 2 decimal places, e.g. 10.50% or 10,50.) 2016 2017 % Return on ordinary shareholders' equity